World Tractor Market Slightly Declines in 2016
- Published Date
According to the Agrievolution world tractor market report covering the whole year 2016, the number of new tractors sold globally is 1.9 million, which is a 2% decline compared to the year 2015. Nevertheless global market seems doing well, with some markets going up and some going down.
India and China, the Asian part of the world, constitute together almost half of the whole sales. Compared to these two countries, Japan comes out as a far weaker market in Asia. Even though the number of tractors sold are high in India, they are mostly low-hp power due to traditional farming techniques and size of farms. Japan is a similar tractor market to India by means of size of farms. On the other hand, high-hp power tractors have been more widely used in China.
Russia is another important tractor market with its total arable land availability and large farms. The country also needs further ag machinery investment, where local manufacturers seem increasing their share. The neighbouring Turkey, where tractor market has been on a continuous uprise trend for the last 5 years, has seen traffic registery of just more than 70,000 tractors, in which over 50 hp tractors hold a 80% share.
Stepping to Europe, it is observed a 7% tractor market decline compared to 2015 for the whole continent, where intensive farming and large-capacity agriculture machinery use is very common. On the other hand, different trends are seen in different countries. While the two biggest markets of EU, Germany and France, have faced declines more than 5%, and a noteworthy recovery isn't seem to be on the way in the forthcoming period; Italy and UK, the 3rd and 4th biggest markets respectively, have performed better in 2016 compared to the previous year, and their tractor market foreseen to improve in 2017. Spain has a notable market performance in 2016 with a 8% increase.
The Americas continent is represented in Agrievolution report by Canada, USA, and Brazil. In Canada and USA, tractors below 30 hp accounts more than half of the tractor registeries, which indicates there has been a strong trend towards hobby farming in these countries. In US, it is mentioned that mid-size farms have had some struggles and they are decreasing in number, and this negative trend seems to continue in the future. This results in a decreasing demand for over 30 hp tractors. Contrary, large farms foreseen to increase in number and size in the forthcoming period. The US tractor market has increased by 3% in 2016 mostly due to below 30 hp tractor sells. However, Canada has seen a decrease of 8%, and the market is not predicted to recover in the near future.
The full report could be reached here.
The Agrievolution web site www.agrievolution.com
2 March 2017
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